Guideline Value for PERIYAKENIKULAM ROAD

Periyakenikulam Road guideline value

The current guideline value of Periyakenikulam Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Periyakenikulam Road has changed

The guideline value for Periyakenikulam Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was reduced to Rs 670 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,000 per sq.ft in the 2023 revision, and further rose by 10% to the current value of Rs 1,100 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Periyakenikulam Road is below this median.

• PERIYAPALAYATHAMMAN KOIL 1st STREET: Rs 1,100 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)
• P.E.Ramakrishnan Garden: Rs 2,200 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Perumal Street: Rs 1,700 per sq.ft (2024)
• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyakenikulam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyakenikulam Road?

The Sub Registrar Office that covers Periyakenikulam Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Karapakkam

The guideline value is a crucial factor during property transactions in Karapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when finalizing the sale price to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Periyakenikulam Road?

The current guideline value of Periyakenikulam Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Periyakenikulam Road?

Periyakenikulam Road is classified as Residential Class III Type - I.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Periyakenikulam Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.